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Labuan ramps up efforts to complement S'pore

It seeks to boost oil trading volume and offers wealth management vehicle that can be used by wealth advisers.

Mr Abdullah acknowledges that Labuan is replicating Singapore's model while Ms Jaafar-Crossby says Malaysia's offshore financial services centre is looking for new niches


LABUAN International Business and Financial Centre (IBFC), Malaysia's offshore financial services centre located near Sabah, is positioning itself to complement Singapore in the areas of oil trading and wealth management.

For the former, this is in the form of a tax...